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8~10 August, 2012 Yong-Gil Lee, INHA University

Identification of the 2 nd Death Valley in Korean Energy Innovation Process - Triple Helix 2012, Bandung -. 8~10 August, 2012 Yong-Gil Lee, INHA University. Jolly (1997)’s Five Stage Theory in Commercialization Process. I. Imagining. II. Incubating. VC & Angel’s intervention point.

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8~10 August, 2012 Yong-Gil Lee, INHA University

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  1. Identification of the 2nd Death Valley in Korean Energy Innovation Process - Triple Helix 2012, Bandung - 8~10 August, 2012 Yong-Gil Lee, INHA University

  2. Jolly (1997)’s Five Stage Theory in Commercialization Process

  3. I. Imagining

  4. II. Incubating VC &Angel’s intervention point

  5. III. Demonstrating

  6. IV. Promoting

  7. V. Sustaining

  8. Public vs. private funding in the five stages Imagining Incubating Demonstrating Sustaining Promoting Private R&D + Business Public R&D

  9. Cooper (1990)’s Thirteen Stage Theory I

  10. Cooper (1990)’s Thirteen Stage Theory II

  11. Comparison between Jolly and Cooper I

  12. Comparison between Jolly and Cooper II

  13. Technology Readiness Level

  14. TRL1: Understanding principles United States Department of Energy, 2009

  15. TRL2: Formation of Technological Concept

  16. TRL3:Proof of Conceptual Characteristics Concurrent engineering in consideration of TRL

  17. TRL4: Proof of Constructs Role of Korean GRI by TRL4 + Chinese R&D?

  18. TRL5: Laboratory Integration of Components

  19. TRL6: Demonstration at Simulated Operational Level

  20. TRL7: Demonstration at Operational Level

  21. TRL8: Completion of System

  22. TRL9: Operation of System

  23. Comparison between Jolly, Cooper, and TRL

  24. Comparison between Jolly, Cooper, and TRL

  25. Comparison between Jolly, Cooper, and TRL

  26. Death Valley and TRL Value TRL1 TRL5, TRL6 TRL9

  27. W type and the 2nd Death Valley Value 2nd Death Valley 1st Death Valley TRL1 TRL5, TRL6, TRL7, TRL8 TRL9

  28. Comparison between the 1st and 2nd Death Valley

  29. Innovation Principle in Energy Conventional + Non-c. Fossil Energy New & Renewable Energy Acquisition of Mining Lot Solar Photovoltaic Geophysical Exploration/ Prospecting Fuel Cell Exploitation/ Drilling & Boring Hydrogen Tide … Well Evaluation & Completion Wind Geo-thermal Innovation driven sector Production Experience &Investment driven sector Refinement/Final Product/ Service (Ex: Electricity)

  30. Sectoral Principles • Experience & Investment driven sector • Learning by doing, using, interacting • Huge cash flow • Oil/Natural Gas producing countries • Medium & Low Tech. Perspective • - Traditional tech. + IT • - Path following innovation • Conglomerates, large firms Conventional + Non-C. Fossil Energy Manufacturing + Service perspective • Innovation driven sector • Science based • Intensive R&D • Developed countries • High Tech. Perspective • - Technological convergence/fusion based on • IT, material science, chemistry, physics, • and so forth • - Path breaking/skipping innovation • Ventures New & Renewable Energy

  31. Balance your Stance Activity = 1/adjusted MC Fossil Energy Paradigm N&R Energy Paradigm • Product/Service/ • Technological /Industrial • Fusion frequently happens near this point! • Where are we, now? Time When? 2020?

  32. References Auerswald, P. E. & L. M. Branscomb, 2003. “Valleys of Death and Darwinian Seas: Financing the Invention to Innovation Transition in the United States”, The Journal of Technology Transfer, Vol. 28, Nos. 3-4, 227-239. Cooper, R. G. (1990), New Products: What distinguishes the winners?, Research Technology Management6 (27). Jolly, V. K. (1997), Commercializing New Technologies, Harvard Business School Press, Boston, MA. Heslop, L.. A., E. McGregor, M. Griffith, 2001, “Development of a Technology Readiness Assessment Measure: The Cloverleaf Model of a Technology Transfer”, Journal of Technology Transfer, Vol.26, pp.369-384. United States Department of Energy, 2009, “Technology Readiness Assessment Guide (DOE G 413.3-4)”, United States Department of Energy, Office of Management. October 12, https://www.directives.doe.gov/directives/archive-directives/413.3-EGuide-04

  33. Thank you!

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